Insights › Cost by state
Cost by state
State of the plan sponsor's mailing address (Form 5500 line 2a). Medians are over plans reporting a positive value, in the comparison population for plan year 2024; states with fewer than 50 plans are not listed. The second table restricts to the $10 to 50M bucket.
All sizes
| State | Plans | Median plan assets | Recordkeeping fees / participant (median) | Admin excl. investment mgmt / participant (median) | Admin expenses / assets (median) |
|---|---|---|---|---|---|
| AK | 109 | $24,959,561 | $75.61 (n 62) | $105.60 (n 102) | 0.241% |
| AL | 611 | $15,196,733 | $78.99 (n 325) | $114.47 (n 575) | 0.315% |
| AR | 287 | $15,791,803 | $80.46 (n 155) | $104.80 (n 273) | 0.339% |
| AZ | 866 | $11,889,752 | $70.34 (n 444) | $103.24 (n 824) | 0.390% |
| CA | 6,460 | $17,877,452 | $63.41 (n 3,859) | $88.94 (n 6,037) | 0.240% |
| CO | 983 | $16,186,104 | $82.64 (n 523) | $108.53 (n 942) | 0.333% |
| CT | 797 | $24,704,079 | $60.70 (n 440) | $96.98 (n 756) | 0.182% |
| DC | 402 | $26,018,806 | $79.38 (n 200) | $95.91 (n 373) | 0.196% |
| DE | 171 | $19,538,042 | $68.11 (n 92) | $100.50 (n 164) | 0.251% |
| FL | 2,505 | $13,725,488 | $71.72 (n 1,345) | $103.89 (n 2,387) | 0.357% |
| GA | 1,512 | $20,315,845 | $71.95 (n 816) | $105.52 (n 1,427) | 0.275% |
| HI | 160 | $17,194,711 | $47.89 (n 96) | $88.31 (n 151) | 0.263% |
| IA | 634 | $21,984,252 | $65.85 (n 265) | $141.27 (n 607) | 0.290% |
| ID | 234 | $13,194,907 | $87.73 (n 124) | $113.84 (n 226) | 0.376% |
| IL | 2,709 | $23,463,404 | $72.86 (n 1,595) | $103.65 (n 2,575) | 0.226% |
| IN | 1,102 | $16,599,630 | $75.10 (n 585) | $103.82 (n 1,042) | 0.301% |
| KS | 593 | $15,739,735 | $84.07 (n 365) | $123.96 (n 570) | 0.334% |
| KY | 606 | $14,621,842 | $68.31 (n 336) | $98.32 (n 570) | 0.301% |
| LA | 575 | $14,593,404 | $73.89 (n 242) | $103.44 (n 541) | 0.262% |
| MA | 1,829 | $22,259,120 | $60.00 (n 1,033) | $90.08 (n 1,720) | 0.184% |
| MD | 1,102 | $17,936,476 | $89.36 (n 614) | $116.48 (n 1,059) | 0.302% |
| ME | 216 | $17,177,815 | $60.54 (n 111) | $116.86 (n 201) | 0.270% |
| MI | 1,920 | $18,291,311 | $72.46 (n 1,099) | $108.95 (n 1,817) | 0.297% |
| MN | 1,428 | $21,914,575 | $71.30 (n 749) | $104.82 (n 1,353) | 0.235% |
| MO | 979 | $20,033,173 | $83.59 (n 547) | $108.46 (n 936) | 0.290% |
| MS | 235 | $12,312,312 | $74.66 (n 112) | $103.15 (n 217) | 0.357% |
| MT | 145 | $13,973,402 | $103.45 (n 84) | $131.70 (n 138) | 0.292% |
| NC | 1,420 | $16,170,722 | $69.62 (n 754) | $104.20 (n 1,334) | 0.290% |
| ND | 210 | $19,209,881 | $47.73 (n 132) | $160.54 (n 203) | 0.273% |
| NE | 418 | $19,594,532 | $82.71 (n 214) | $119.03 (n 410) | 0.275% |
| NH | 255 | $20,570,939 | $58.21 (n 140) | $100.74 (n 242) | 0.211% |
| NJ | 1,696 | $22,516,072 | $59.79 (n 896) | $96.11 (n 1,581) | 0.234% |
| NM | 184 | $12,925,957 | $61.87 (n 91) | $108.37 (n 177) | 0.391% |
| Not stated | 54 | $21,557,692 | n < 50 (n 31) | $71.45 (n 50) | 0.221% |
| NV | 307 | $13,220,135 | $61.61 (n 170) | $98.54 (n 296) | 0.359% |
| NY | 3,717 | $21,361,094 | $60.51 (n 2,047) | $90.60 (n 3,459) | 0.215% |
| OH | 2,352 | $18,361,107 | $76.79 (n 1,352) | $108.54 (n 2,232) | 0.278% |
| OK | 541 | $15,562,284 | $69.59 (n 322) | $107.61 (n 518) | 0.293% |
| OR | 719 | $15,800,139 | $77.42 (n 351) | $104.90 (n 687) | 0.293% |
| PA | 2,576 | $19,854,445 | $63.37 (n 1,334) | $102.05 (n 2,466) | 0.265% |
| PR | 102 | $8,711,108 | n < 50 (n 17) | $106.08 (n 89) | 0.527% |
| RI | 178 | $21,547,686 | $52.51 (n 81) | $95.67 (n 170) | 0.215% |
| SC | 556 | $15,468,449 | $72.93 (n 301) | $113.76 (n 531) | 0.325% |
| SD | 173 | $17,888,853 | $68.60 (n 75) | $127.83 (n 165) | 0.305% |
| TN | 1,024 | $16,013,921 | $69.79 (n 535) | $108.73 (n 977) | 0.342% |
| TX | 3,963 | $17,064,952 | $65.42 (n 2,272) | $94.06 (n 3,737) | 0.273% |
| UT | 606 | $16,153,642 | $73.95 (n 307) | $113.92 (n 567) | 0.365% |
| VA | 1,690 | $20,274,521 | $73.53 (n 928) | $110.49 (n 1,604) | 0.270% |
| VT | 140 | $18,602,284 | $80.08 (n 62) | $124.99 (n 133) | 0.244% |
| WA | 1,206 | $18,767,832 | $72.84 (n 648) | $102.73 (n 1,136) | 0.254% |
| WI | 1,512 | $20,578,656 | $72.63 (n 905) | $111.16 (n 1,424) | 0.283% |
| WV | 149 | $12,544,882 | $96.38 (n 85) | $111.34 (n 137) | 0.337% |
Plans with $10 to 50M in assets
| State | Plans | Recordkeeping fees / participant (median) | Admin excl. investment mgmt / participant (median) | Admin expenses / assets (median) |
|---|---|---|---|---|
| AL | 277 | $87.58 (n 151) | $127.66 (n 258) | 0.314% |
| AR | 130 | $90.81 (n 71) | $112.41 (n 125) | 0.325% |
| AZ | 315 | $92.57 (n 164) | $114.00 (n 298) | 0.363% |
| CA | 3,037 | $79.04 (n 1,832) | $107.56 (n 2,880) | 0.260% |
| CO | 447 | $101.26 (n 238) | $125.53 (n 434) | 0.326% |
| CT | 384 | $72.15 (n 206) | $121.82 (n 366) | 0.225% |
| DC | 175 | $85.53 (n 83) | $106.11 (n 168) | 0.238% |
| DE | 79 | n < 50 (n 41) | $133.87 (n 76) | 0.291% |
| FL | 1,058 | $79.61 (n 578) | $115.94 (n 1,023) | 0.341% |
| GA | 664 | $84.62 (n 343) | $125.93 (n 638) | 0.311% |
| HI | 78 | $65.33 (n 51) | $96.78 (n 76) | 0.236% |
| IA | 326 | $75.79 (n 131) | $169.72 (n 311) | 0.317% |
| ID | 104 | $93.16 (n 55) | $118.71 (n 101) | 0.360% |
| IL | 1,279 | $89.50 (n 754) | $125.51 (n 1,233) | 0.276% |
| IN | 524 | $89.67 (n 291) | $120.45 (n 500) | 0.313% |
| KS | 298 | $93.30 (n 184) | $134.94 (n 289) | 0.322% |
| KY | 278 | $97.86 (n 159) | $125.02 (n 267) | 0.327% |
| LA | 275 | $82.96 (n 118) | $131.96 (n 255) | 0.259% |
| MA | 922 | $63.84 (n 518) | $106.42 (n 876) | 0.221% |
| MD | 523 | $97.54 (n 292) | $134.40 (n 506) | 0.313% |
| ME | 109 | $70.46 (n 55) | $129.52 (n 105) | 0.276% |
| MI | 890 | $86.93 (n 515) | $122.42 (n 855) | 0.305% |
| MN | 682 | $77.75 (n 343) | $120.29 (n 653) | 0.275% |
| MO | 425 | $98.43 (n 244) | $123.91 (n 410) | 0.311% |
| MS | 97 | n < 50 (n 43) | $121.33 (n 89) | 0.297% |
| MT | 79 | n < 50 (n 47) | $153.39 (n 76) | 0.292% |
| NC | 618 | $80.37 (n 343) | $121.07 (n 588) | 0.303% |
| ND | 120 | $49.01 (n 76) | $180.95 (n 117) | 0.280% |
| NE | 205 | $93.77 (n 99) | $137.98 (n 201) | 0.306% |
| NH | 146 | $71.51 (n 81) | $108.66 (n 139) | 0.238% |
| NJ | 768 | $66.31 (n 402) | $113.64 (n 728) | 0.268% |
| NM | 79 | n < 50 (n 41) | $107.82 (n 78) | 0.363% |
| NV | 134 | $76.81 (n 76) | $110.31 (n 131) | 0.320% |
| NY | 1,690 | $76.03 (n 907) | $110.29 (n 1,605) | 0.254% |
| OH | 1,145 | $93.19 (n 657) | $122.08 (n 1,096) | 0.297% |
| OK | 250 | $85.37 (n 155) | $116.20 (n 241) | 0.285% |
| OR | 328 | $82.63 (n 156) | $110.82 (n 312) | 0.279% |
| PA | 1,262 | $74.61 (n 632) | $118.76 (n 1,212) | 0.289% |
| RI | 76 | n < 50 (n 28) | $103.14 (n 70) | 0.227% |
| SC | 254 | $77.16 (n 137) | $138.93 (n 242) | 0.309% |
| SD | 79 | n < 50 (n 33) | $139.32 (n 76) | 0.302% |
| TN | 448 | $81.70 (n 233) | $118.76 (n 433) | 0.364% |
| TX | 1,718 | $79.88 (n 1,011) | $108.23 (n 1,661) | 0.290% |
| UT | 270 | $103.13 (n 144) | $139.27 (n 255) | 0.372% |
| VA | 826 | $93.36 (n 450) | $133.56 (n 800) | 0.300% |
| VT | 82 | n < 50 (n 33) | $125.36 (n 77) | 0.242% |
| WA | 585 | $79.61 (n 307) | $116.88 (n 555) | 0.284% |
| WI | 739 | $89.94 (n 453) | $132.95 (n 699) | 0.311% |
| WV | 70 | n < 50 (n 42) | $130.45 (n 64) | 0.337% |
Form 5500 line 2a (sponsor state), Schedule H lines 2i(3), 2i(5), 2i(12), 1f; line 6g(2). Plan year 2024.